The Briefing

Weekly business & investment updates curated for you.

Erbil Rotana

Iran — Iran has planned to invest 16 billion euros in the area of ICT, Minister of Communications and Information Technology Mahmoud Vaezi has announced. The investment will be made by the state and private sectors in the country in the next five years.

Jordan — The $214 million second phase of the New Terminal Project at the Queen Alia International Airport (QAIA) in Amman, Jordan, which added 43,000sqm to its total area, was recently completed. The project is designed to raise the airport’s annual passenger capacity from the current seven million to up to 12 million passengers, with future plans to increase capacity even further to 16 million passengers per year.

Kazakhstan — Kazakhstan attracted $2.7 billion in foreign direct investment in the first quarter of 2016. The number is expected to reach $10 billion by the end of the year.

Kenya — Kenya plans to invest Sh20 billion in the agricultural sector in the next five years to improve the interests of farmers in the country.

Lebanon — S&P Global Ratings revised its outlook on the Republic of Lebanon to stable from negative. At the same time, S&P affirmed its 'B-/B' long- and short-term foreign and local currency sovereign credit ratings on Lebanon.

Morocco — Following the introduction of a new investment charter last month, the Moroccan government has signed €691.6 million worth of agreements. A combined 30 contracts with companies from the UK, Canada, Brazil, China, India and Russia were inked the day after the new charter was announced.

Oman — On the back of large investments by the private sector, the mining sector contribution to the national GDP is expected to witness remarkable growth in the coming years. Mining is one of the five sectors acknowledged for driving growth in the long term and helping the government of Oman in its economic diversification strategy.

Philippines — Investment pledges approved by the Board of Investments nearly doubled in the first seven months of the year. The BOI said investments approved from January to July soared 98 percent to P210.37 billion from the P106.08 billion recorded in the same period last year.

Qatar — Qatar has invested over $22 billion in France, making it the second destination for public and private Qatari investments.

Saudi Arabia — Part of Saudi Arabia's bold reform plans is to give foreign investors more accessto its stock market. The reality is at the moment only 1% of total shares are owned by foreigners.

Thailand — Foreign direct investment in Thailand plunged 91% on the year in January-June to $340 million, according to central bank data, a level not seen since 2011, when severe flooding caused heavy damage.

The Briefing

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